0 Property For Sale in Myanmar
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The pace of change in Myanmar has sped up since 2010 and Myanmar's property market could benefit hugely from this transformation. Myanmar is now Asia's last remaining explosive growth frontier market. Its economy has achieved an average 7.3% GDP growth over the last decade, making it one of the 10 fastest growing economies in the world.
Myanmar's property also has natural advantages which are hard to ignore. The country is situated in South East Asia's most strategic location. It borders China, India, Thailand, Laos, and Bangladesh, giving it access to almost half of the world's population.
Yangon is Myanmar's economic heartbeat. Rental yields in Yangon's properties are between 8 – 12%, which is 2 – 4% higher than yields in Vietnam and 6 – 10% higher than yields in Hong Kong. The average sale price of a luxury condominium is between US$300,000 – US$400,000, with significant further upside potential driven by a growing local affluent middle-class population.
The country's pro-foreigner government has established an increasingly friendly legal framework to ensure fair and safeguarded foreign property investment in Myanmar. Its current Foreign Investment Law has British Common Law roots, and explicitly guarantees remittance and repatriation of investment and profits. Myanmar's new Condominium Law in 2019 now allows foreigners to own condominiums.
For property investors in Hong Kong searching for a new harbour to diversify their portfolios, now is the best time to consider investing in Myanmar.